F O R T Y- S E V E N T H A N N U A LCOLORADOBUSINESS ECONOMICOUTLOOK2012Sponsored by the University of Colorado Boulder, Leeds School of Business

Price per copy: $75.00Additional copies may be ordered from:Business Research Division University of Colorado Boulder 420 UCB Boulder, CO 80309-0420 303-492-8227 leeds.colorado.edu/brdISBN 978-0-89478-019-0Copyright 2011 by the Business Research Division Leeds School of Business University of Colorado Boulder Boulder, CO 80309-0420Material contained within the accompanying tables is in the public domain and, with appropriate credit, may be reproduced without permission. Please reference, “Business Research Division, Leeds School of Business, University of Colorado Boulder.”Photo on page 15 courtesy of Molly Witzel. Other photos by University of Colorado.Printed on recycled paper.(FSC mark here.)

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2012 Colorado Business Economic Outlook2The Business Research Division (BRD) in the Leeds School of Business is proud to present our 47th annual Colorado Business Economic Outlook. The 2012 Colorado outlook is a product of partnerships that rely on research conducted by our students and staff, and members of the public and private sectors.This forecast analyzes changes that have taken place in all economic sectors during the past year, and looks at the opportunities and challenges that will shape the changes in our population, employ-ment, and overall economy for the coming year. The information in this book is initially presented at the forty-seventh annual Colorado Business Economic Outlook Forum in Denver, followed by approximately 50 forecast speeches that are held throughout the state during the year, ranging from presentations to industry associations and non-proﬁt organizations to the Federal Reserve Bank of Kansas City.MethodologyWe are fortunate to have approximately 100 indi-viduals from business, education, and government who serve on 13 sector estimating groups. These groups convene at a kickoff meeting in September, where members discuss trends and issues that are likely to affect economic growth during the upcoming year. During the second half of Sep-tember and into October, the committees apply this information to their industry. From this series of meetings, the sector write-ups and forecasts are prepared and submitted to the BRD in early

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